Short Interest in Fidelis Insurance Holdings Limited (NYSE:FIHL) Decreases By 38.0%

Fidelis Insurance Holdings Limited (NYSE:FIHL) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 552,400 shares, a drop of 38.0% from the February 28th total of 890,700 shares. Based on an average daily volume of 638,300 shares, the short-interest ratio is currently 0.9 days. Currently, 1.1% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FIHL shares. Barclays cut their price objective on Fidelis Insurance from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of Fidelis Insurance from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group restated a “sell” rating and set a $16.00 target price (down previously from $21.00) on shares of Fidelis Insurance in a research note on Wednesday, January 8th. UBS Group upped their price target on shares of Fidelis Insurance from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods dropped their price target on Fidelis Insurance from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.57.

Fidelis Insurance Price Performance

Shares of FIHL stock traded down $0.01 during trading on Friday, hitting $16.21. The company had a trading volume of 459,768 shares, compared to its average volume of 576,331. The firm has a market capitalization of $1.81 billion, a P/E ratio of 4.09 and a beta of 0.61. Fidelis Insurance has a one year low of $14.17 and a one year high of $21.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50-day moving average price is $15.83 and its 200 day moving average price is $17.41.

Fidelis Insurance (NYSE:FIHL) last issued its earnings results on Tuesday, February 25th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of $0.93 by ($1.98). Fidelis Insurance had a net margin of 20.17% and a return on equity of 15.27%. The firm had revenue of $685.90 million during the quarter, compared to analyst estimates of $661.52 million. Equities analysts expect that Fidelis Insurance will post 3.12 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.47%. Fidelis Insurance’s dividend payout ratio (DPR) is currently 42.55%.

Institutional Investors Weigh In On Fidelis Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in FIHL. R Squared Ltd bought a new position in Fidelis Insurance in the 4th quarter valued at approximately $26,000. Venturi Wealth Management LLC increased its holdings in shares of Fidelis Insurance by 1,862.9% during the fourth quarter. Venturi Wealth Management LLC now owns 6,144 shares of the company’s stock worth $111,000 after buying an additional 5,831 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Fidelis Insurance in the 3rd quarter valued at $195,000. Fox Run Management L.L.C. acquired a new stake in shares of Fidelis Insurance during the 4th quarter valued at $235,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Fidelis Insurance during the 4th quarter worth $247,000. 81.99% of the stock is owned by institutional investors.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, a specialty insurer, provides insurance and reinsurance solutions in Bermuda, the Republic of Ireland, and the United Kingdom. It operates in three segments: Specialty, Reinsurance, and Bespoke segments. The Specialty segment offers aviation and aerospace, energy, marine, property direct and facultative, and other specialty risk solutions.